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HomeMy WebLinkAboutOrdinances Book 11, Page 919, No Ordinance Number919 AN ORDINANCE RATIFYING AND APPROVING THE PROVISIONS OF A CONTRACT, REFERRED TO AS THE SECOND SUPPLEMENTAL CONTRACT, ENTERED INTO BETWEEN THE PADUCAH AIRPORT CORPORATION AND THE KENTUCKY INSTITUTE OF AERONAUTICS SUPPLEMENTING AND REVISING THE CONTRACT ENTERED INTO BETWEEN THE SAME PARTIES ON MARCH 20, 1945; WITH REFERENCE TO THE USE OF THE BARKLEY AIRPORT; AND AUTHORIZING THE MAYOR PRO TEM AND THE CITY CLERK TO EXECUTE FOR AND ON BEHALF OF THE CITY OF PADUCAH, A WRITING RATIFYING AND APPROVING SAID SECOND SUPPLEMENTAL CONTRACT WHEREAS, under a contract entered into between the Paducah Airport Corporation and the Kentucky Institute of Aeronautics on March 20, 1945, the former granted to the latter certain privileges for the use of the airport property described thereinl and WHEREAS, said contract was amended by a supplemental contract jentered into on June 7, 1949; and WHEREAS, the parties have agreed upon the cancellation of the aforesaid contract of June 7, 1949 and have executed in lieu thereof an agreement which is in words and figures as follows, to - wit: °NOW THEREFORE, THE PREMISES CONSIDERED, it is mutually covenanted and agreed that the aforesaid Supplemental Contract of June 7, 1949, be and the same is hereby cancelled and is to be of no further force or effect. IT IS MUTUALLY COVENANTED AND AGREED that the aforesaid original contract of May 20, 1945, be and it is hereby amended and revised and the Second Party agrees that he will relinquish all cla to and will not exercise any exclusive right or rights which are fo bidden by Section 303 of the Civil Aeronautics Act of 1938, as amended, or by any Act of Congress relative to public airports, or which are forbidden by any rules and regulations thereunder before any public agency will be eligible to receive Federal funds for the development of facilities upon such public airports, and the provi- sions of this agreement, as modified, are hereby expressly sub- orordinated to the provisions of the existing A.P. 4 agreement, the approved project application dated December 28, 1948. In consideration whereof, the Corporation hereby agrees that during the term of the aforesaid original contract, it will not gran to any other person, firm or corporation any like privilege or the privileges which the Second Party has acquired under the aforesaid contract unless such person, firm or corporation will become obli- gated by a written contract with the Corporation, and City and County as owners of the Airport, to construct and install buildings and facilities on said airport property within a period of four (4) 920 months from the date of such contract, which buildings s7beofthe value equal to those buildings the Second Party has cand which facilities shall be of the value equal to those the Second Party has installed; and provided further, that the Corporation shall not grant to any other person, firm or corporatio any like privilege, or the privileges which the Second Party has acquired unless such person, firm or corporation obligates himself or itself by written contract to pay to the Corporation the sum of not less than :;300.00 per month and, in addition, a sum equal to 5% of the gross receipts collected for the use of such privilege , subject to the allowance or credits to which such person, firm or corporation will be entitled as hereinafter provided; and provided further, that such person, firm or corporation shall obligate himself or itself that all of the buildings constructed upon said airport shall become the property of the City of Paducah and the County of McCracken, State of Kentucky, at the end of the contract period. It is further understood and agreed that in the event any other person, firm or corporation shall be granted any like privilege or privileges which the Second Party has acquired, such person, fi rri or corporation shall be entitled to an allowance or credit on the 5% of gross receipts collected for such privileges to the extent of $14,000.00 shall be invested by such person, firm or corporation in the construction of buildings on said airport property within the aforesaid four (4) months period, said allowances and credits to be given as and when an accounting is made to the First Party of 5% of the gross receipts by such person, firm or corporation, and said accounting shall be made in the same manner as provided in the afor - said original contract. It is further understood and agreed that in the event any like privilege or privileges which the Second Party has acquired are grafted to any other person, firm or corporation as hereinabove provided and the lease or contract entered into between the first party and such person, firm or corporation shall expire or be terminated for any reason, the title to all buildings placed upon said property by such other person, firm or corporation shall vest in the First Part at the expiration or termination of said contract or any renewal thereof. Except as modified by the provisions of this Second Supple- mental Agreement, all of the terms, conditions and covenants con- tained in the aforesaid contract of March 20, 1945, shall remain and continue in full force and effect. 921 NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF COMMISSIONERS OF THE CITY OF PADUCAH, KENTUCKY: Section 1. That the City of Paducah, Kentucky, ratify and approve said Second Supplemental Contract containing the terms and conditions set forth above, and that Stuart Johnston, Mayor Pro Tem authorized to execute, for and on behalf of the City of Paducah, a writing by the terms of xh ich said city shall agree to the terms and conditions set forth in detail in the foregoing Second Supple- mental contract between the Paducah Airport Corporation and the Kentucky Institute of Aeronautics. Section 2. This ordinance shall be in full force and effect from and after its adoption. Ma yor Prm o Comm I5-5—fover DaUl A e — Passed by the Board of Commissioners September 27, 1949 Recorded by Sarah Thurman, City Clerk, September 27, 1949.